Thinking about converting inherited IRA to Gold - thoughts?
- •My folks left me a nice chunk of change in a traditional IRA when they passed a few years back – about $400k.
- •Living out here in Honolulu, you get a real sense of how interconnected things are globally, especially with the Pacific Rim economies.
- •I’ve seen enough cycles to know that when things get shaky, hard assets like gold tend to hold their value.
My folks left me a nice chunk of change in a traditional IRA when they passed a few years back – about $400k. I’ve mostly just left it alone, but with everything going on in the world right now, I’m seriously considering converting a good portion of it into a Gold IRA. I’ve got my own Gold IRA set up already from when I retired from the Navy with about $600k in there, mostly physical gold and a bit of silver, and it’s served me well so far.
Living out here in Honolulu, you get a real sense of how interconnected things are globally, especially with the Pacific Rim economies. The way China’s been acting, the tensions in the South China Sea, and frankly, the instability of some of our "allies" in the region – it all makes me a bit nervous about relying solely on paper assets. I’ve seen enough cycles to know that when things get shaky, hard assets like gold tend to hold their value. It feels like a smarter play for long-term preservation, especially with another significant sum like this.
My broker is pushing some managed funds, saying gold doesn't generate income, which is true, but I'm not really looking for income from this particular account. Rather, I’m looking for a hedge against inflation and geopolitical turmoil. I’m comfortable with my other investments providing income. Has anyone else here converted an inherited IRA into a Gold IRA? What were your experiences navigating the rules around that? Any unexpected hurdles or benefits I should be aware of?